Life Insurance Settlement
While a life insurance policy can be an effective part of estate and financial planning, there may come a time when the policy no longer makes good financial sense. In such cases, and when a number of criteria are met, the policy can be sold for a lump sum settlement on the secondary market to a third party for fair market value.
ABG Financial Services offers a team of experienced settlement professionals who can assess the need and the risks, and manage the sale and its myriad details.
To help you understand more about a life insurance settlement, we offer a number of case studies. And we’d be happy to talk with you about your estate plan and life insurance strategy. Let us help you make sure all the pieces of your financial plan fit together.
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Financial planning is a jigsaw puzzle: Find the right pieces and it falls into place.
Valmark Securities supervises all life settlements like a security transaction and its’ registered representatives act as brokers on the transaction and may receive a fee from the purchaser. Once a policy is transferred, the policy owner has no control over subsequent transfers and may be required to disclosure additional information later. If a continued need for coverage exists, the policy owner should consider the availability, adequacy and cost of the comparable coverage. A life settlement transaction may require an extended period to complete and result in higher costs and fees due to their complexity. Policy owners considering the need for cash should consider other less costly alternatives. A life settlement may affect the insured’s ability to obtain insurance in the future and the seller’s eligibility for certain public assistance programs. When an individual decides to sell their policy, they must provide complete access to their medical history, and other personal information.
Securities Offered Through Valmark Securities, Inc. Member FINRA, SIPC. Investment Advisory Services Offered Through Valmark Advisers, Inc. a SEC Registered Investment Advisor 130 Springside Drive, Suite 300 Akron, Ohio 44333-2431* 1-800-765-5201.
ABG Financial Services is a separate entity from Valmark Securities, Inc. and Valmark Advisers, Inc.